As an integrated energy company, Vistra Energy operates an innovative, customer-centric retail business and a generation fleet focused on safely, reliably, and efficiently generating power in the communities we serve.
Electricity is an irreplaceable product that is critical to everyday life, whether it be for residences or businesses. We understand and take very seriously our role to provide cost-effective, reliable power to our customers and help fuel the economy. We also understand and take very seriously that our business has an environmental footprint. We have invested billions of dollars to control emissions, to make our existing power plant fleet more efficient, and to advance our generation fleet into newer, more efficient and lower emitting power plants including renewables, batteries, and state-of-the-art, gas-fueled assets.
The supply side of our business is experiencing a transition, some market-driven and some policy-driven, and we must manage our company through this transition in an economic manner. It is not an option to just say no to change. We can and must participate to the long-term benefit of our company and our stakeholders. We have begun the process of rotating our generation fleet and during this process we will operate a wide variety of facilities as the fuel mix changes based on opportunity to economically produce electricity and provide reliable, cost-effective power to meet our customers’ needs.
Electricity is essential to society’s most important priorities: food production and processing, construction of residences and businesses including hospitals and schools, and production of critical goods and services, such as military equipment and transportation resources. The reliable production and delivery of power is certainly important, but the cost must also be considered. Subsidies and artificial support of electricity resources increase the cost to consumers and ultimately crowd out capital that could be used to support the multitude of society’s priorities. No one critical societal priority should be emphasized over another, especially through governmental subsidies that pick winners and losers. Competitive economics should be allowed to prevail.
Balance is the key, and it’s a theme you’ll see throughout this sustainability report. Just as our name balances “vision” and “tradition,” we are balancing innovation and reliability, sustainability and efficiency. With our recent Dynegy merger, we’ve added balance to our geographic presence and the make-up of our generation fleet. Our people balance the work they do in the community with work for the community. With our existing facilities, we strive to balance the impact they make with the benefits they provide.
We take a balanced approach to the products we offer, providing customers a wide range of offers to match their needs and preferences. And as we look to new technologies, we seek to balance the prospect of developing incremental new technologies, such as renewables and batteries, with the financial prudence that has put us in a position to pursue it in the first place.
Vistra’s story so far has been one of sustainable success. And, in many ways, our story is just beginning.
Curt Morgan, president and CEO
Texas Trees Foundation
TXU Energy has sponsored the TXU Energy Urban Tree Farm and Education Center since 2002. With their valuable sponsorship, this project is the nation’s largest-known urban tree farm. The four-acre TXU Energy Urban Tree Farm and Education Center at Richland College features state-of-the-art production and irrigation technology with the capacity to produce over 7,000 ten-gallon trees per planting season. Trees are offered to the public through programs like The Groves, Tree the Town, and Re-Leaf. Since 2002 TXU Energy has planted over 240,000 trees across Texas.
Every year TXU Energy looks for ways to improve the site, expanding opportunities for urban forest research and education. Techniques and projects are continously updated.
Since mining began more than 45 years ago, Luminant has reclaimed more than 80,000 acres for use as pastures, forests, wildlife habitat, and water resources, and the company has secured reclamation bond liability releases on 40,000 acres.
Over the last 44 years, Luminant has planted more than 41 million native trees as part of our reclamation program, including over 1.2 million in 2018. More than 30,700 acres of our reforested land are certified by the American Tree Farm System as sustainably managed woodlands, and the Federal Office of Surface Mining has indicated that we plant more trees annually than any mining company in the U.S.
Energy in Action is a corporate-wide initiative designed to support our existing spirit of volunteerism, facilitate and encourage more opportunities to give back to the communities we serve, and recognize employees for their dedication to helping others.
Worksite employee committees and employee resource groups are empowered to identify needs in their specific communities that meet guidelines and then donate volunteer time or cash grants.